We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Novo Nordisk (NVO) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $137.23, marking a -1.02% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Heading into today, shares of the drugmaker had gained 7.55% over the past month, outpacing the Medical sector's gain of 0.62% and the S&P 500's loss of 1.03% in that time.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. The company is expected to report EPS of $0.80, up 9.59% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Novo Nordisk. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.41% higher. Novo Nordisk is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Novo Nordisk is currently trading at a Forward P/E ratio of 33.17. This represents a premium compared to its industry's average Forward P/E of 14.68.
We can also see that NVO currently has a PEG ratio of 1.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NVO in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Novo Nordisk (NVO) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $137.23, marking a -1.02% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Heading into today, shares of the drugmaker had gained 7.55% over the past month, outpacing the Medical sector's gain of 0.62% and the S&P 500's loss of 1.03% in that time.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. The company is expected to report EPS of $0.80, up 9.59% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Novo Nordisk. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.41% higher. Novo Nordisk is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Novo Nordisk is currently trading at a Forward P/E ratio of 33.17. This represents a premium compared to its industry's average Forward P/E of 14.68.
We can also see that NVO currently has a PEG ratio of 1.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NVO in the coming trading sessions, be sure to utilize Zacks.com.